Safety & Security

Foreign Currency Direct are FCA authorised and have stringent security measures. You can have confidence that your money is safe.

At Foreign Currency Direct plc our stringent security measures will give you confidence that your money is always safe. We treat the compliance and security of all our clients’ funds with paramount importance. Our low risk business model makes sure that each and every transaction is safe, thanks to our highly tested policies and procedures which have been in operation since 2000.

How do you know your funds are secure?

The first and most important point is that we are authorised by the Financial Conduct Authority (FCA) under the Payment Services Regulations 2009 (FRN 538392) and have been so since 18/04/2011.

Segregated bank accounts

Client funds are separated from Foreign Currency Direct's own funds and are kept in client bank accounts held with Lloyds Bank Plc. We are an execution-only service, so we never speculate on market movements or risk your funds in any way.

We have also gone one step further than our competitors. We pioneered the IPD® (Irrevocable Payment Document), which is internationally recognised as proof of payment.

We apply stringent governance and risk management procedures throughout the business

We adhere to a rigorous code of conduct at all levels of the company. The dedicated in-house compliance division work solely to ensure we comply with all regulations and are at your disposal to discuss any questions you may have with regards to the security of your funds.

Repeatedly going the extra mile to ensure the trust of our clients explains why we at Foreign Currency Direct PLC, since trading commenced in 2000, have grown consistently. Proving our reliability to new and existing account holders alike is why Feefo awarded us their Gold Trusted Service Award. As a PLC our accounts are also audited every year and are available for public scrutiny at any time via the Companies House website.

Capital is held to exceed the day-to-day operations of the institution

Our capital is actually higher than that required by the FCA. This is a significant commitment to security given that we now trade over £500 million annually for tens of thousands of clients. We are also partnered with hundreds of estate agents, solicitors and property professionals across Europe and the rest of the World who refer customers to us exclusively thanks to our proven track record.

Laws and Regulations

We are authorised by the Financial Conduct Authority to provide payment services (FRN 538392).

We are registered as a Money Service Business with HMRC (MSB number 12146539)

We’ve been trading successfully since 2000 and are a PLC.

Our accounts are audited annually.

We are an execution only service, specialising in transferring funds; we are prudent in our transactions and do not speculate.

As a financial services company we are required to follow certain laws, regulations and sanctions (which include sanctions issued by the UN, EU, HM Treasury and OFAC).

Our compliance processes in conjunction with our the systems and controls, are designed to help eliminate money laundering, fraud and terrorist financing. You may be assured that we act in both your and our best interests at all times.

US, Mexican and Quebec Residents

Please note that we are unable to assist clients that are resident in the USA, Mexico or the Canadian province of Quebec. If you are unsure about this or have any questions please do call us.

Unfortunately, there are other jurisdictions which we are unable to send payments to, or accept customers resident in. For a full list of these please contact the Compliance Department on 01494 787474 or email compliance@currencies.co.uk.